Fiona Keenan, consumer insight director at the firm this morning told us: "Yesterday’s PS4 news is exactly what is needed to reinvigorate the games market.

"Gamers have become increasingly disengaged with their consoles due to a lack of new hardware with half of all PS3 and Xbox 360 owners not buying a game last year. This is despite the release of big titles such as Fifa 13 and the new Call of Duty. Those who did continue buying games in 2011 and 2012 reduced their spend significantly from £106 to £78.

"This launch, in addition to the anticipated Xbox 720 announcement, will re-engage shoppers and give the entire market a boost toward the end of this year.”

MCV is the leading trade news and community site for all professionals working within the UK and international video games market. It reaches everyone from store manager to CEO, covering the entire industry. MCV is published by NewBay Media, which specialises in entertainment, leisure and technology markets.